The taxi industry is getting kicked to the curb in more than 110 cities worldwide by the latest disruptive mobile technology — smartphone apps such as Uber and Lyft which provide low-cost online ride-sharing services that ignore the heavily-regulated and taxed taxi monopoly.
Worldwide reaction from shaken taxi companies and city governments has been swift and angry, but largely inconsequential. The online ride-sharing movement is moving faster than a New York taxi meter. Uber, the San Francisco-based leader in this disruptive new field, is currently valued at $18.2 billion US.
The Uber app allows people to arrange a ride with a few taps on their smartphone. The rider’s smartphone GPS locates the nearest ride and even tracks the ordered ride’s progress on the app’s real-time map.
Imagine, a world without yellow cabs.